Podcast ad revenue will increase this year, but the gains will be smaller than previously predicted, the fourth annual IAB Podcast Ad Revenue Report reveals. In 2020, U.S. podcast advertising revenues will near $1 billion, up 15 percent compared with 2019. Previously, revenues were expected to grow nearly 30 percent.
The podcast industry was able to mitigate the drop-off in advertising by offering flexibility for advertisers looking to make last-minute changes to their messaging."In the early days of COVID-19, the media formats that remained resilient were those that provided agility to marketers to change messaging," Sue Hogan, senior vp research and analytics for the IAB, said in a statement.
Don’t expect the COVID19 downturn to affect podcasting for too long. Major global streaming players, including Spotify and SIRIUSXM, have been actively engaged in an M&A ground assault to consolidate the market, thereby focusing future advertising revenue. MusicBiz
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Podcast Industry Ad Growth Hit By PandemicThe economic downturn brought about by the coronavirus pandemic is expected to hit the podcast industry, according to a new report
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